Johnston Press takeover rumours circulate

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Malaysian billionaire Ananda Krishnan is rumoured to be considering a takeover bid for Johnston Press, the regional newspaper group in which he bought a 20 per cent stake last month.

Shares in Johnston Press jumped 25 per cent on Friday, but chief executive Tim Bowdler told the Daily Mail the sharp spike is more likely to be due to a proposed clampdown on short-selling instead of takeover speculation.

“Whatever speculation there might be is hypothetical and I don’t and won’t comment,” he said.